Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-3

AM7 were negotiating an off take agreement for sale of tantalum concentrate AND dropped vote on equity expansion at last AGM. Assume that funding is not an issue. Bitterwasser brine targets have been drilled. EM target is 42km x 9 km in size, to a minimum depth of 150m, that is approximately six times the size of Sydney Harbor. Upside is very significant. We are also about 11 months from first free cash flow from tantalum concentrate.